Illinois Municipal Retirement Fund Sells 58,007 Shares of Copart, Inc. $CPRT

Key Points

• Illinois Municipal Retirement Fund cut its Copart stake by 41.4% in the first quarter, selling 58,007 shares and leaving it with 81,990 shares valued at about $2.72 million.
• Copart recently reported better-than-expected quarterly results, with EPS of $0.43 versus $0.41 expected and revenue of $1.24 billion versus $1.19 billion projected.
• Analyst sentiment is mixed, but the stock still carries a Moderate Buy consensus and an average price target of $44.50, well above its recent trading price near $27.61.

Illinois Municipal Retirement Fund lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 41.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,990 shares of the business services provider's stock after selling 58,007 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Copart were worth $2,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Copart by 1.3% in the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider's stock worth $931,000 after purchasing an additional 264 shares during the period. Sierra Legacy Group grew its holdings in Copart by 1.9% during the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider's stock valued at $543,000 after buying an additional 265 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider's stock valued at $68,000 after buying an additional 266 shares in the last quarter. Brown Miller Wealth Management LLC raised its position in shares of Copart by 3.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider's stock valued at $286,000 after buying an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider's stock valued at $250,000 after buying an additional 282 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of CPRT opened at $27.61 on Monday. The company's fifty day moving average is $30.72 and its 200 day moving average is $34.44. Copart, Inc. has a fifty-two week low of $27.23 and a fifty-two week high of $50.11. The stock has a market capitalization of $25.56 billion, a PE ratio of 17.15 and a beta of 1.02.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.19 billion. During the same period last year, the company posted $0.42 EPS. The business's revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CPRT. Zacks Research upgraded shares of Copart from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Freedom Capital raised shares of Copart to a "strong-buy" rating in a report on Friday, June 26th. Finally, Weiss Ratings lowered Copart from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.50.

About Copart

Copart NASDAQ: CPRT is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart's business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.

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